July 16, 2021 (Ames, IA) - The Nevada Economic Development Council (NEDC) is pleased to announce ALMACO will be expanding their operations in Nevada.
ALMACO currently manufactures leading precision agriculture machinery that is used in global research programs and seed production. ALMACO's growth stems from their continued investment in the development and commercialization of products designed to increase crop production yields and automate the processes used in seed breeding and production worldwide.
"ALMACO is thrilled about the growth opportunities in front of us as we participate in our mission of helping feed the world through our products and services," said Patrick Clem, President & CEO of ALMACO. "We are in the midst of executing a handful of major new product developments that are in sync with the cutting edge, ag-technologies of the future."
The expansion includes a $850,000 capital investment that ALMACO will use to invest in machinery, equipment, research and development at their facility in Nevada.
"It's always great to see the expansion of a home grown company," said Mayor Brett Baker, City of Nevada. "ALMACO is Story County's oldest business and it's incredible to see them continuing to grow and thrive in the 21st century!"
ALMACO expects to create 60 jobs, of which 34 will be incented at a qualifying wage of $27.07 per hour.
"These developments will require growth in all areas of our business including personnel, capital equipment, and building infrastructure. As the oldest business in Story County we are grateful for the continued support from the local and state economic development teams and happy to be investing back into the community," said Clem.
The Iowa Economic Development Authority awarded the project a $125,000 forgivable loan and tax benefits through the HQJ program.
"On behalf of the NEDC board, we feel very fortunate to have Almaco in our community," said Michelle Cassabaum, President, Nevada Economic Development Council. "They have a long history of investment and involvement in Nevada. Our organization is very excited about the impact of their new job growth and believe this project will be significant to the economic development and vitality of our community."
For more information, please contact John Hall, Executive Director, Nevada Economic Development Council at 515.232.2310 or at firstname.lastname@example.org.